Ujjivan Small Finance Bank Ltd on Friday reported a 48% year-on-year decline in net profit to ₹121.7 crore for the September quarter, down from ₹233 crore a year earlier, even as the figure beat CNBC-TV18’s estimate of ₹117 crore on steady margins and improved asset quality.

Shares of the lender fell about 1% on the BSE after the earnings announcement.

Net interest income (NII) came in at ₹921.7 crore, slightly higher than the expected ₹917 crore, but lower than ₹944 crore a year earlier.

Asset quality improved sequentially, with gross non-performing assets (NPA) at 2.45% versus 2.52% in the previous quarter, while net NPA declined to 0.67% from 0.70%.

During the quarter, total deposits rose to ₹39,211 crore, up 15.1% year-on-year and 1.5% quarter-on-quarter. CASA deposits increased 2

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